A new draft state budget for 2014, which has been submitted for consideration by the government, envisages a reduction in the deficit by UAH 50 billion.

Ukrainian Finance Minister Oleksandr Shlapak told this to reporters before a cabinet meeting on Tuesday, a Ukrinform correspondent reported.

"We want to keep the current budget, but the budget adopted in 2014 envisages a deficit of about UAH 50 billion additionally. That is what we want to sequester," he said.

Shlapak said that this goal was to be achieved in two ways: "First - we would like to propose that the parliament adopt additional laws regarding the replenishment of budget revenues - this is [UAH] 29 billion. And about [UAH] 23 billion is spending cuts planned in 2014."

Ukrinform